Curated Wealth Partners LLC Has $1.35 Million Stock Holdings in Arista Networks, Inc. $ANET

Curated Wealth Partners LLC reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 41.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,261 shares of the technology company’s stock after selling 6,481 shares during the period. Curated Wealth Partners LLC’s holdings in Arista Networks were worth $1,349,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ANET. Bare Financial Services Inc boosted its holdings in Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares in the last quarter. REAP Financial Group LLC boosted its stake in Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares in the last quarter. Nova Wealth Management Inc. grew its position in Arista Networks by 215.7% in the third quarter. Nova Wealth Management Inc. now owns 341 shares of the technology company’s stock valued at $50,000 after acquiring an additional 233 shares during the period. Solstein Capital LLC raised its stake in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after acquiring an additional 316 shares in the last quarter. Finally, Saudi Central Bank acquired a new position in Arista Networks during the first quarter worth $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the completion of the transaction, the director directly owned 25,784 shares in the company, valued at $3,302,672.56. This represents a 23.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the sale, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 216,464 shares of company stock worth $28,598,588. Company insiders own 3.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ANET shares. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Melius Research upped their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target on the stock in a research report on Thursday, September 25th. Finally, The Goldman Sachs Group raised their price target on Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 12th. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $163.56.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $131.29 on Friday. The stock has a market cap of $165.33 billion, a P/E ratio of 49.92, a P/E/G ratio of 2.39 and a beta of 1.41. The firm has a 50 day moving average price of $136.26 and a 200 day moving average price of $127.71. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.40 earnings per share. Analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.